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National Litigation Firm Labaton Sucharow Announces Investigation of JPMorgan Chase & Co. (NYSE: JPM) in the Wake of Money Laundering Allegations

·2 mins read

Labaton Sucharow a global investor rights law firm, announces an investigation on behalf of purchasers of the securities of JPMorgan Chase (NYSE: JPM).

On September 20, Buzzfeed reported a comprehensive investigation of global financial institutions, having obtained "twenty-two thousand pages of never-before-released government documents." Among the documents were more than 2,100 suspicious activity reports, or SARs, which banks and other financial institutions submitted to the US Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, when they observe transactions that suggest money laundering or other illegal activity. Such reports can support investigations and intelligence gathering — but by themselves they are not evidence of a crime. The FinCen files included suspicious activity reports filed by nearly 90 financial institutions.

The FinCEN Files investigation reveals that global financial institutions, including JP Morgan, appeared to have facilitated $2 trillion of suspicious transactions that were flagged to the U.S. government over nearly two decades.

The report said banks such as JPMorgan Chase, among others, engaged with and facilitated the movement of criminal money even after raising their suspicions.

On September 21, premarket, JP Morgan Chase was trading down on heavy volume. If you are a current stockholder, derivative, or options holder of JP Morgan and wish to learn more or discuss the issues surrounding the investigation, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at dschwartz@labaton.com.

About the Firm

Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200921005535/en/

Contacts

David J. Schwartz
(800) 321-0476
dschwartz@labaton.com